MIRA
INFORM REPORT
|
Report Date : |
29.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
andrew telecommunicationS India private
LIMITED |
|
|
|
|
Registered
Office : |
Plot No. N-2, Phase IV, Verna Industrial Estate, Verna Salcette –
403511, |
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|
Country : |
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|
|
Financials (as
on) : |
31.03.2013 |
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|
|
|
Date of
Incorporation : |
09.10.1997 |
|
|
|
|
Com. Reg. No.: |
24-002452 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.49.404 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U32204GA1997PTC002452 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRA04908B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCA8820A |
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|
|
Legal Form : |
Private Limited Liability Company |
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|
Line of Business
: |
Providing Telecommunication Services. |
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|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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|
|
Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. The rating is constrained on account of company’s moderate financial
risk profile and losses that company has incurred from its operational
activities. However, trade relations are fair. Business is active. Payments are
reported to be slow but correct. The company can be considered for business dealing with some caution. |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
N E W S
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go slow on talks
over coal supply contracts, uncertainty over cancellation of blocks weigh on
stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight between a father and
his adopted son for the control of Rs 40000 mn business empire. The Central
Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10
lakhs as bribe from M A M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would
take a few more quarters to bring down levels to 13-15 %.
DHL to invest Euro
100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that it had willfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DECLINED
MANAGEMENT NON-COOPERATIVE
[CONTACT NO.: 91-832-6685200]
LOCATIONS
|
Registered Office/ Factory : |
Plot No. N-2, Phase IV, Verna Industrial Estate, Verna Salcette –
403511, Goa, India |
|
Tel. No.: |
91-832-6685200/ 201/ 202/ 2407303/ 6685107 |
|
Fax No.: |
91-832-6685025/ 6685104/ 6685107/ 6685210 |
|
E-Mail : |
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|
Website : |
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Corporate Office : |
Andrew Corporation |
|
Tel. No.: |
1-708-349-3300 |
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Overseas Offices
: |
Located at · · · · · · · · · Hong Kong · · · · · · · · · · · · · Switzerland · · ·
|
DIRECTORS
(AS ON 30.09.2013)
|
Name : |
Mr. Daniel John Hartnett |
|
Designation : |
Director |
|
Address : |
110 South |
|
Date of Birth/Age : |
16.10.1955 |
|
Date of Appointment : |
10.11.1998 |
|
DIN No.: |
00438363 |
|
|
|
|
Name : |
Mr. Antonio Augusto Do Rego |
|
Designation : |
Managing Director |
|
Address : |
Apartment 145/155, Casa Del SOL, Opposite Marriott, Beach Resort,
Miramar Panjim – 403001, Goa, India |
|
Date of Birth/Age : |
24.09.1960 |
|
Date of Appointment : |
20.11.2007 |
|
DIN No.: |
01895508 |
|
|
|
|
Name : |
Mr. Michael David Coppin |
|
Designation : |
Director |
|
Address : |
1546, Withers Dr. Denver NC 28037-5466 USA |
|
Date of Birth/Age : |
26.09.1964 |
|
Date of Appointment : |
20.05.2008 |
|
DIN No.: |
02135137 |
KEY EXECUTIVES
|
Name : |
Ms. Alpita |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2013)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Andrew |
|
4940431 |
|
|
|
1 |
|
|
|
|
|
Total |
|
4940432 |
(AS ON 30.09.2013)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Telecommunication Services. |
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Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
|
|
|
|
Bankers : |
· Bank of America Delhi Branch, India |
|
|
|
|
Facilities : |
-- |
|
|
|
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
S R Batliboi and Company LLP Chartered Accountants |
|
Address : |
14th Floor, Theruby, 29 Senapati Bapat Marg, Dadar (West), Mumbai – 400028, Maharashtra, India |
|
PAN No.: |
ACHFS9180N |
|
|
|
|
Holding Company : |
·
Andrew LLC, U.S.A. |
|
|
|
|
Ultimate Holding
Company : |
·
CommScope Holding Co. Inc. |
|
|
|
|
Fellow subsidiary : |
· Andrew Limited (UK) · Andrew AG (Switzerland) · Andrew Telecommunications (China) Company Limited · Andrew International Corporation, Hong Kong Branch · Andrew Japan (KK) · Andrew LLC, Taiwan Branch · Commscope Australia Pty Limited (formerly Andrew Corporation (Australia) Pty Limited) · Andrew Telecommunications S.R.O (Czech Republic) · Andrew Telecommunication Systems (Singapore) Pte Limited · Commscope Italy Srl · Forem (Shenzhen) Company Limited · Andrew Wireless Solutions Africa · Andrew Wireless Systems GmbH, Germany · CommScope Cabos Do Brasil Ltda · CommScope Solutions India Private Limited · CommScope Asia Suzhou Technologies Company Limited, China · CommScope (Suzhou) Trading Company Limited · Commscope Solutions Singapore Pte Limited ·
CommScope Inc. of North Carolina, U.S.A. ·
Allen Telecom Finland ·
Andrew International Services Corp., Joliet ·
Argus Technologies China Limited ·
Commscope EMEA Limited, Ireland |
CAPITAL STRUCTURE
(AS ON 30.09.2013)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4940432 |
Equity Shares |
Rs.10/- each |
Rs.49.404
millions |
|
|
|
|
|
FINANCIAL DATA
[All figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
49.404 |
49.404 |
49.404 |
|
(b) Reserves & Surplus |
1855.773 |
2206.464 |
2383.097 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1)+(2) |
1905.177 |
2255.868 |
2432.501 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1199.240 |
1199.240 |
1199.240 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
1199.240 |
1199.240 |
1199.240 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
1071.166 |
1112.546 |
1691.190 |
|
(c) Other current
liabilities |
100.605 |
89.157 |
223.546 |
|
(d) Short-term provisions |
15.100 |
10.296 |
12.655 |
|
Total Current Liabilities (4) |
1186.871 |
1211.999 |
1927.391 |
|
|
|
|
|
|
TOTAL |
4291.288 |
4667.107 |
5559.132 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
517.352 |
721.652 |
914.286 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
15.525 |
6.518 |
15.151 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
712.606 |
607.668 |
486.620 |
|
(e) Other Non-current assets |
0.944 |
6.344 |
15.365 |
|
Total Non-Current Assets |
1246.427 |
1342.182 |
1431.422 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
841.069 |
861.958 |
1226.626 |
|
(c) Trade receivables |
846.171 |
775.023 |
1733.210 |
|
(d) Cash and cash
equivalents |
756.030 |
1269.634 |
592.490 |
|
(e) Short-term loans and
advances |
555.971 |
385.909 |
423.152 |
|
(f) Other current assets |
45.620 |
32.401 |
152.232 |
|
Total Current Assets |
3044.861 |
3324.925 |
4127.710 |
|
|
|
|
|
|
TOTAL |
4291.288 |
4667.107 |
5559.132 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
4484.463 |
4252.708 |
5744.749 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
4709.964 |
4245.019 |
5567.322 |
|
|
|
|
|
|
|
|
|
PROFIT/
[LOSS] BEFORE TAX, DEPRECIATION AND AMORTISATION |
(225.501) |
7.689 |
177.427 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
123.730 |
180.141 |
177.427 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ [LOSS]
BEFORE TAX |
(349.232) |
(172.452) |
0.000 |
|
|
|
|
|
|
|
|
|
|
PRIOR PERIOD
ITEM |
0.000 |
0.000 |
(34.190) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
1.795 |
65.561 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ [LOSS]
AFTER TAX |
(349.232) |
(174.247) |
(31.401) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
733.005 |
907.252 |
938.653 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
383.773 |
733.005 |
907.252 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Export |
1239.325 |
933.419 |
1079.272 |
|
|
|
Agency Commission |
2.015 |
9.127 |
7.605 |
|
|
TOTAL EARNINGS |
1241.340 |
942.546 |
1086.877 |
|
|
|
|
|
|
|
|
|
|
Earnings/ [Loss]
Per Share (Rs.) |
(70.69) |
(35.27) |
(6.36) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(7.79)
|
(4.10) |
(0.55) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(8.17)
|
(3.70) |
0.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.18)
|
(0.08) |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.63
|
0.53 |
0.49 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.57
|
2.74 |
2.14 |
FINANCIAL ANALYSIS
[All figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particulars |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns.) |
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
49.404 |
49.404 |
49.404 |
|
Reserves & Surplus |
2,383.097 |
2,206.464 |
1,855.773 |
|
Net worth |
2,432.501 |
2,255.868 |
1,905.177 |
|
|
|
|
|
|
Long-term borrowings |
1,199.240 |
1,199.240 |
1,199.240 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
1,199.240 |
1,199.240 |
1,199.240 |
|
Debt/Equity ratio |
0.493 |
0.532 |
0.629 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Total Income |
5,744.749 |
4,252.708 |
4,484.463 |
|
|
|
(25.972) |
5.450 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR) |
(INR) |
(INR) |
|
Total Income |
5,744.749 |
4,252.708 |
4,484.463 |
|
Profit |
(31.401) |
(174.247) |
(349.232) |
|
|
(0.55%) |
(4.10%) |
(7.79%) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
----- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm / promoter
involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
25] |
Conduct of the banking account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if
available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating, if available |
No |
CURRENT MATURITIES
OF LONG TERM DEBT: NOT AVAILABLE
INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY
UNSECURED LOANS
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
|
|
[Rs. in Millions] |
|
|
LONG-TERM
BORROWINGS |
|
|
|
Bonds/ Debentures Privately Placed Debentures |
1199.240 |
1199.240 |
|
|
|
|
|
Total |
1199.240 |
1199.240 |
|
Note: During the year 2009-10 the Company has issued 11,992,400 numbers of 12.5% unsecured Fully Convertible Debentures (FCD) of Rs.100/- each convertible into equity shares of Rs.10 each at a premium of Rs.90, provided the FCDs shall be compulsorily converted into Equity Shares at the end of the term of 51 (fifty one) years to be computed from the date of issue of the FCDs, provided that: If the conversion price (face value plus premium) is less than the price, as on or around the date of conversion, as per the minimum pricing guidelines stipulated by the Reserve Bank of India (Regulatory Price), all FCDs shall be converted into such numbers of Equity Shares as is arrived at by dividing the aggregate value of FCDs by the Regulatory Price and (2) the Equity Shares to be issued pursuant to the conversion shall be a round figure. Conversion Date: The Conversion Date shall be at the end of the Term, except in the case of an Accelerated Conversion (as defined below) or a Default. The principal and accrued interest, if any, will be converted into Equity Shares on the Conversion Date, subject to regulatory approvals. Accelerated Conversion: The FCDs will be converted into Equity Shares, if (i) the Company is insolvent, (ii) a judgment is issued for the Company’s judicial liquidation , (iii) the Company is otherwise wound up or dissolved, except in connection with a merger or other reorganisation, provided that the transferee entity in such merger or reorganization assumes the obligations resulting from the FCDs, (iv) the law requires a shorter period of conversion of the FCDs or (v) the Company, at its sole option, converts the FCDs into Equity Shares in one or more tranches, but not before June 30, 2015 Interest : Interest shall accrue at a rate of 12.5% per annum payable on the average total face value of all outstanding debentures during the respective financial year, provided that (1) the payment accrues and is payable , if and only to the extent that the company realises profit in the relevant financial year and (2) the interest shall be paid or converted into debentures within a period of 3 years from the date it is due, subject to regulatory approvals |
||
CHANGE OF ADDRESS:
The Registered Office of the company has been shifted
from Plot No.76, Pilerne Industrial Estate, Bardez, Goa – 403511 India, to the
present address w.e.f.15.01.2007.
BACKGROUND
The Company"
or "Andrew") is registered in India as a wholly-owned subsidiary
company of Andrew LLC, U.S.A. (formerly known as Andrew Corporation, U.S.A.);
the ultimate holding company being CommScope Holding Co. Inc. (effective 14
January 2011 and CommScope Inc prior to such date).
CommScope or
formerly Andrew group is engaged in providing telecommunication solutions. CommScope
is the foremost global supplier of one-stop, end-to-end radio frequency
subsystem solutions. The group designs, manufactures and delivers complete
solutions for wireless infrastructure, including top-of-the-tower base station
antennas to cable systems, radio frequency site solutions, signal distribution
and network optimization solutions. Andrew Telecommunication India Private
Limited is primarily engaged in the business of providing complete solutions to
customers in the telecommunication industry. The Company supplies
telecommunication products such as co-axial cables, base station antennas,
micro-wave antennas and similar allied products to its customers as a single
complete solution and the solution may include such products which may be
manufactured from raw materials or imported as finished goods, depending on the
requirement of the end customers.
FIXED ASSETS:
· Leasehold Land
· Leasehold Improvements
· Buildings
· Plant and Machinery
· Office Equipment
· Furniture and Fixtures
· Computers
· Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other official
proceeding for making any prohibited payments or other improper payments to
government officials for engaging in prohibited transactions or with designated
parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or investigation
registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 61.57 |
|
|
1 |
Rs. 100.42 |
|
Euro |
1 |
Rs. 78.45 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
32 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.